BIS Unveils Technical Priorities for CBDCs in Americas
The major technical priorities for a possible CBDC architecture have been identified by the central banks in the Americas, with assistance from the BIS. For nations investigating or putting Central Bank Digital Currency (CBDC) ideas into practice, the Consultative Group on Innovation and the Digital Economy (CGIDE) study is a useful resource. Central banks are […]
South Korea FSC Exempts NFTs, CBDCs from Crypto Interest
The Financial Services Commission (FSC) of South Korea has notified that users who deposit digital assets in exchanges will be eligible for interest. However, nonfungible tokens (NFTs) and central bank digital currencies (CBDCs) are exempted from the regulations Local media agencies reported on December 10 that the FSC intends to issue the legislative guidance. The […]
Taiwan Central Bank Concludes Wholesale CBDC Study
The Central Bank of Taiwan has concluded a feasibility study regarding introducing wholesale central bank digital currency (CBDC) and is further deliberating on the matter. The central bank will continue to work on platform design while soliciting input from academicians and business professionals, Deputy Governor Mei-lie Chu stated on December 7. Chu described Banking 4.0, […]
Canadians Reject CBDC Idea in Public Consultation
A recent public consultation on Canada’s central bank digital currency (CBDC) initiative revealed a negative sentiment from Canadians, confirming the Bank of Canada’s concerns around its country-wide adoption. In a recent public consultation, Canadians have expressed their opposition to the idea of a digital Canadian dollar, a new form of money issued by the Bank […]
South Korea to Test CBDC with 100K Citizens in 2024
The Central Bank of South Korea says the Central Bank Digital Currency (CBDC) pilot program will involve using deposit tokens to purchase products by 100,000 Korean citizens, The testing will start “around September to October” of 2024 and last for three months. Participants will only be able to use the CBDC for payment purposes, with […]